♪ lou: good evening, everybody. thank you for being with us. presidentbama desperateor repeve after twoeeks aonth -- of a number of domestic scandals. the president trying to change the subject bydelivering a white house speech on foreign policy and drone at tax. presidt obama could not escape the scandals that have e been scared his administration and agenda. he was forced to respond to charges that his administration is blatantly attacking the firs amendment rights of our free pres >> we must enforce nsequences for those who break the law and breached their cmitment to

protect classified aberration but a free press is allo essential for our democracy. thatis who we are and i am troubled by the possibility tha investigationsns mayy chill the investigative journalism but hold government accountable. lou: the president went on to say yet supported attorney-general holder t review justice department polic in dealing with leaves and that he must get back to him by mid july. heould not explain why the attorney-ggneral or part two @ months tell them the truth. approving the seizure of five - private e-mails,nd the president cannot avoid the unpleasa reality that he s not the center of a number of scandals. fast and furious, and servi as the chief law-enforcement officer of the country while

being held in contempt of congress. the rest of the speech today focused on hisplan to limit the use of dronestrikes ainst foreign extremists. a threat is imminent, not just significant as was the previous white house policy. e president announced a new push to close the guantanamo ba dention center, another of his faed cpaign promises from 2008. that, despite the fact that a new fox news poll shs a majority of americans, 68 percent, want to keep the present open. 20 percent say it should be closed. try as youmight, t irs scandal is only worsening. the irs director of exempt organizations is now on administrative leave,ut still receives a salary. house oversight committee chairman still wants t put her back before hi panel to testify . he says agrees with her

republican to determined that the decision tt plead the fifth yesterday was not valid because she also delivered an opening statement claiming her innocence . and house spear today backing up the chairman of the house oversight gnaling republicans will not be backing down. >> what is most troubling in thiwhite house is that the lights were on but it does ot seem to be anyone home. the irs systemically violated t rights of americans for almost two years. th treasury artment knew about this last year. the whitehouse was made aware last month, yet no one, no one thought that ththey should tell thpresident. lou: meanwhile, democrats lousy failing in their efforts to difse these scandals. house minority leader nancy pelosi today took a swing at mitigating the esident's responsibility thaal rang hollow and pitiful when she said , the president does not

know about what is going on in every agency of government. well, the president's efrts to change the subject focused squarely on scaling back the global war and terr and plans to fixes broken promise to clos guantanamo bay. for more on the esident's public relations maneuvering, w turn to fox news chief white use correspondent ed henry for our report. >> reporter: president obama thought he would finallyget a break from some of those other controversies by turning to rrorism today >> closeuantanamo today. >> reporter: was completely dashed by a heckng protesters demanding attention for th prisoners on a hungerr strike a guantanamo bay. >> today. thank you. you should let me finish my sentence. >> reporter: the president pushed through his broader message toramatically scale back the war on terror, startin with delivering on his failed

promis to close the u.s. miliry presence at guantanamo. >> i am liftg the moratorium on detraining -- detaining transfers to yemen said that we can review them on a case by se basis. >> reporter: more than half of the detainee's cleared to go back to thr home cotries are from yemen and have been waitin over four years. >> on the issue of guantamo bay we plac to wor with the president. is time we hope that there is a coherent plan fo addressing that issue. >> rorter: the presint spoke of a bigger focus on home run terror like the bombings in boston, even mentioning that th attacks in men gauzy proof that the outside is being defeated. >> he not carried out a successful attack on our homeland since septeer 11th. >> reporter: also offeringan unprecedented level of detail about his administration's use of drone'knowledging for amicans have been killed overseas, but he is now limitin

their use. >> before any strike is taken there must be near certainty that no civilis will be killed or injured. the highest standard we can set. >> reporr: the republican chairman ofthe house armed services committee declared in statement thespeech was only necessary due to a deeply inconsistent counter-terrorism policy, one that maintains it i more humane to kill a terst with a drone then deined and interrogate him. the president declared a global war on terror started by then president bush is now over because he believes the threat can be managed. >> beyond afghanistanwe must de our effort not as a boundless, glob war and terror , but thers a ries ofersistent, target of efforts dismantle specific networks ofiolent extremists the thrt of america. >> reporter: the psident added that constantly ing on a war footing becomes self-defeati. senator mccain fired back that this defies reality, noting tha

al qaeda is reconstituting itself all around the mideast. lou: and thank you very much.@ ed henry, fos chi white house correspondent. joining us now is the "a-team". let's start, if we may call wit you. this is a president who is changing their rhetoric about the global war and terror, seeming to want to adopt some narrowpecific nguage about the threat rather than put them together and make incomprehensive. is that the way thatou would read the president's statement? >> i was ju amazed that you could actually frameeit that wa because this was anntirely rhetorical device on the president's part. you're rht. there iso there in the president's speech. the war and terror wi live in

simply because he willses, and whether or nothe calls a war on terror or a series of persistence, targeted effortssto dismantle specific networks of violent extremists, heaven help us if we have to use the word i law make or islamist. it is the same. you cannot just kill him and sa no problem. we will move along. lou: specifically i think ffrst and foremost cause of this president is not accountable to the amican people,e, what diseases were taken that led to the vulnerability of r stallations in benghazi, the murders and the wounding of others at benghazi, and nine month stone wall. >> i think you're getting to somethin very specific. a lot of peoe take a look at the speech at the last nearly five years and say this president doesot have a coherent plan will tional-security strategy. when it com to the middle east an the war terror and dealing with this specific enemy

, i think the exact opposite is true. i thinkhat he do have an approach that is actually rkin against our interests and the interest of israel, and that is to elevate the islamist acacross the region. you see it happening in egypt, tunisia, libya, nown sious. the same time, he has limited america's -- that is a huge mistake because americans islamist enemy i not limited to al qae. lou: a real mistake. >> beating al qaeda as the enem is so much bigger. lou: is in the real mistake her that we haveot destroy the enemy? we have been engaged with the enemy r 12 years. this is a president now talking as if now is going to behigh -- high noon and the war is over. starting with guantanamo.

the guys that are there are still bad guys. you sendhem back to yemen, which is not a safe havenor us . it is a safe haven for terrorists. equally important, drones have workedffectively. lo wh you are saying is the president is now going to be reasing terrorists with a recidivism rate of about 28%or more andlso limiting the use of drugs which ha been the most effective means tt he has employ in the war against radical islist. >>nd then argue unless you are sure the person is a teist and they know that there is no potential of any othe casualties, it is crazy. lou: we have given thepresen his do. we have dealt with theubject. now let's go back to wt is really important, and that is a government that is lying to the answer to congress and be to accountable and to hold accountable thoswho serve this

government and to have consulte our rights, whethe it be the first amendment, targetg conservatives. your thoughts? >> he said that he is troubled by t fact that his own attorney general signed offfon warrant i gainst james rosenbaum , the fox ws correspondt. lou: two years a >> two years ago. troubled by that becse he realizes that what that did was to criminalize news gathering, and yet he expressed is great confidence iericholder. isn't there a disconnect? shouldn't people be asking whether or not this makes any sense at all? lou: a discnect or an outright @%ceptio >> if you lookt this from 30,000 feet and see that benghazi coveup, the department of justice buying of reporters and editors, like the irs scandal, it all makes perfect sense. in 2008 as president lked of the fundamental transformation

of the nation. he is assaulti the first amendment caught trying to eliminate the second amendment, salt in the fourth amendment, assaulting the tenth amendment. lou: wait a minu >> every possibleay, every major right themericans are affordedn the bill of rights he is attacking. lou: he is preservi the fifth amendment. >> suddenly they revere the constitution. >> it does n matr. and believe two presidential administrations in which scanda starts and youon't get to the bottom of it and y ar thomas sooner or later it unravels. this will unravel. totally effective legislation the next few years, and this president is under siege an can do all the distractions he wants . the american public will see through this. >> i hope not because this country has a lot of problems that need toesolved, and i hope we don't have been an effective president >> he was not an effective. >> that depends on whether -- how aggressive the press is

ing to be in pursuing. it. lou:i am impressed to this int. the national liberal media is beginning to demand something o itself as -- >> but it is only when they com after them. lo i have problem with people's movation beg self-interest. thank you very much. thank you very much. well, much more on the scandals that are now engulfing the obam lighthouse you'll be talking next with former speaker of the house. talk about flip-flops'. the president going out of his wato side with fox news now. how about that? the latest on the justice dertment assault on the first amendme. new data showing signs of improvement housing a jobs. wastreet veteran tells us whether the marks are he for,well, recovery next.

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♪ lou: trying to get a sense of wt is goin on in the market, this economy, stocks falling bu finishing well-off of lows afte a sharp sell-off in japan and concerns from fed esident regional bank president, fed chairman, the minutes. the dow, as a result, down 13 points on theday, the s&p lost five. volume on the big board, almos 4 million shares. got to cut jobless claims falling on the week. sales of new homes of more than 2 percent last month with price climbing to a new record high. all good news on housing rket. three senior executives,

advisers receiving subpoenas as part of the government's insider-trading investigation. directed to the firm's chf compliance officer. none of them have been accused of wrongdoing, and has acted appropriately it -- appropriately e route. gold pricegetting $24. crude oil flat t on the day and the bondarket, the yids on the tenure falling slightly. myext guest says it is a natural that we have gone this long without a correction d . joining us now the chief investment strategist for montgomery scott. good to have you here. this mket reacting principally to fed presidents regional presidents, the fed chairman the fed minute, and the

so-called fed watchers, the savant's a telescope that that really mea to say. looks like at this point today after tthing it tips toward the teapot. >> well, clearly. you know, fed policy is having tremendous influence on the market at the moment. we know that the relevant to th room as it relat to the 0% interest-rate policy,the bond buying pgrams by the end of the year at its current pace could add another $1 trillion o to an already $3 trillion balance sheet. the big question that eryone is trying to tease out for ever word uttered by mr. bernanke is when or if this tapering progra will begin and how all the nsequences will affect the market. lou: here is my readi of the minutes, i'm reading of what th fed chamasaid. they're going to start slowing, thinking about how do that, t whwhen to it, but how do

hat at the next etiig which comes up basically the middle o next month. i don't see a excitement because we all knew that that would occur. the seemsike a pretty good indication that they see some gnificant strengthening. fortunately it does not relate to six a half% unemployment ra because they're all talking raising tes but abouscaling and making apopriate the level of stimulus to the bond purche program, 85 billion, 50 billion whatever it may be. why the market reactiontoowha seems to be an tirrly rational thought process of part of the fed >> you just described the investment thesis. why they shouldemain committed to uiti even ife experiee near-terturbulence because market partipants terpreted everything you just said as a warrior in terms of e evaporation and liquidity that they assume has been stimulating asset prices that has no fundamental derpinning in hping the underlying

economic activity. that said, i think it is rational to is an executive you described. i would interpret that as good news, a lack of intervention ultimately is what this market isoing to need to be able to get much better direction from the sials th it could terpret from the economy, the stock market, the bond mket. that has largely been muted by e fed's intervention. lou: it could not find a single negave fm today's metrics on of the housing market. it is an improvement. where are the negatives facing this market both within and wihout? >> cerinlyithin the news continues to accumulate that capitol spending, we're startin to show signs fromusinesses that are sitting on tons of cash

so their resilience. it's aost hausted. this snapshot. theboombust line at 50 for the first time in seven months. that's a little worrisome. u: there is still -- [inaudible question] phrase this delicately? minor potatoes as far as t global economy is concerned. it is just not that big deal. this is t economy that is going t drive. europe is the economy. it has to move. those are the focus is a sms to me. these markets can stand on thei own.

it is all about what we'r doing here right now. >> consumer drives 19% of global economic activity, so fo that rean it is a very sound foundation and a global activit long. steady economic growth domestically. and people lost the importance of the u.s. markets isalways a good to see you. we have great authors do we tking with dr. marina. dollars and se.

two topics we thought my work o this broadcast. why america's best days are yet to come. authors of the new book america. they join us. foxnewsontributor colonel ron peters joins us to talk out his latest novel. great stuff, and wehope you will be with us. upext year, label the national security threat by attorney general holderer and the justic department, fox news reporter james rose and now has the backing of the president of the united states. whereas the when he was needed ? and later, the spear of the house blasted the president er the obama er scandal. joining me to talk abt the speaker's words and his likely actions nex. ♪

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on whether to sentence a woman to life or death, e same jury convicted her of firrt-degree murder just two weeks ago. she stabbed, slasashed, shot, s s throat, what authorities are calling a jealous rage. says the jurs are unable to come to a unanimous decision, a new jury will be selected . if the new jerry encounters thi same gridlock, the death penalty will be removed and the judge will determine the sentencing. it ul be eitr a choice of life with the possity of parole or natural life. the obamajust as department heavy-handed attacks on journalists and its assault on the first amendment and the fir today for more of thtelevision

news business is most influential and successful leaders. fox news president. this as reports surfaced that attorney-general lder green light to the invesgation into our fox news colleague james rose in and other cleagues. fox news correspondent dou of callaway has the rort. >> the president this afternoon appeared tt come dowhardn the kind of tactics used in the justice department investigation . fox newschief washington correspondt co-conspirator in the lgue of national security secrets. >> journalists legal risk fo doing their jobs. that focus must be on those who break the law which is why i call on congress to matt to bypass the media shield law. >> u.s. attorney's statement from yesterday does little to call suspicion. we did not wiretap the funds of any reporter or news organization, nor do we unmonitored track phone calls and many reporters parents.

no records were obtained from the computer services of any of tse organizations. e-mails from the personal accounts were retained, as were details from his ll phone and hiparents found indicating a ey called, with calls were received, as well as time and duration of the calls. in duration, doj court document show the first s digits from several other redacted court documents match the first digit from th white house, pentagon, and state department. without the full visits we cannot know for certain his numbers are targeted. attorney-general eric holder id he recuse himself from the investation that involved the seizing of phone records of the associated press. he wa less precise on whether held be involved in the prosecution of rose and. >> i take it ve seriously and know that i have refuseto sign a few, pushed a few ba for

modification. aed whether secretary of state clinton wasasked a spokesman said this. >> , a personal matter. >> box is chairman sent a message in which he id, the administration's attempt to intimidate foxews and its employees will succeed and excuses will stand either the test of law, decency, or time. whil not allowing a limate of press intimidation and scenes a the mccarthy era to frighten any of usway from the truth. lou: ththank you very much. tad and important reminder n his notes we prepared to honor

those who serve this nation is memoriay weekend. quoting him now, too many americans foht and died to protect our unique erican right o press re and -- press freedom. to be an american journalist not only areat responsibility, but also a greatonor we continue in one moment. the nate set to take up the gang of eight immigrati plan, immigratn scholar, kansas secretary of state whether the bill is worth the paper is printed on. the president desperately tryin to divert the media from scandals to drones. rmer speaker of the hoe reactingto the political and public relations maneuvering next. welwhere new york ste is... investing one billion dollars to attract and grow business. where companies like geo are insting in technology & finance. lcome the state where cutting taxes for busine..

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it is great to have you with us. i want to turn to sex beach handless. the senator said, the president's speech today will b viewed by terrorists as a victory, closing guantanamo and lifting the moratorium on trsferng detainee's to yemen . this is an extraordinary statement by t senator. do you agree? >> absolutely. we created guantanamo to make sure that we take these people who are proven rrorists beyond the average criminal and have dedicatethemselves to destroying the as states. guantanamo was a saf place to put them. of course, it has been under attack tsub ministratn forever, but this transfer to %-sieve. like putting them in a there will back in the system . lou: recidivism rate, 28 rcent of themreturned to terrorist the activity. we alsohave this traordinary conflict in the policies of the

demonstration. the president announcing yesterday that there are four amicans th have been targeted and kklled by german tax. the same time, talking with great passion about the necesessity to maintain high standards for our urt system, terrorists. it is a zarre and obvious conflict and the, if you will, intellectual and aritectural values being followed bythis administration. >> this simply an administration that does one thing and says something else, the american people. i amot sure that they have any incentive grant reforming their behaor. has been outrageous parody go back to the attorney-general. he has a record. he just did not come out and se duri this administration. he was there during the clinton administtion. every time i sat on the committee that we wanted t brin janet reno up to ask a

question, ask them about waco o later on about other issues, up came eric lder with h own version of the truth and he has the audacity to challenge anyone ever ask him a question. an answer as he was e facilitator of the famous clinton pardons at t end of his second term as president. but moving to holder, he is at the center of so many of these scandals. he stands as the chief law-enforcement officer in contempt of congress. is involved in fast and furious, and it was his activities there and his response that le to it. involved in the justice apartment, to be kind come overreaches and abuse of power, whether be in the seizure of the recordsof reporters and edors of the aociated press

or the declaration that is an affront to common sense and decency and rooped bythe fbi agent, a u.s attoey d the judge approved the seizures of records fromjames harrison. this man is at the vortexes of so many of these candles. >> you lay out the indictment pretty plainly, with the same guy comes back and a tax someon r doing his j in coress. he fgets that tre is a separation of powers. >> a sepation of powers. and, as you point out, while he has stonewalled ngss on fast and furious, donerecisely the same thing in every other inquirof this department's. we are watching theinternal revenue serviie, as you well know, basically say to the representatives of the american people, stick it.

stephen miller, the acting commissioner with his head down saying -- not even raising his hand --had to maintain eye contact, at least urtesy and respect. he looks down at th table as he replieto my did not like and en, in ft, hewas lying through his teetby omiion. >> i have been around governmen for a while. a round of bureaucrats and seeral of ministrations. but when mid-level government bureaucrats to have a pension and a job on the line, they did no instigate these things themselves. it has to come from someplace else. i did not care what they say an what day and night. that has to come pl winehse. lo ll we see theoversight committee, the ways and means committee, any one ofhese coittees jpmorgan th truth here?

>> i thinki said will work d work and work. one of the people that ppt them on that committee, very smart, and high integrity. lou: turning to the judiciary committee that reported he so-called gang of eight and a senate plan, your thoughts abou that and its likeliod of succeeding to passage in both theouse a sate? >> it may pass in the senate. they can rock shop on if they try to filibuster. but think it is going toave a tough time in the house. and i think that the vulnabilities are, wherever you do, u have t make se that our borders are secure, absolutely secur because not only do you have the legal and rinse and villains come up, but

you also have folks who are carrying drugs ontheir back cong up. you have to have a very, very tough border provision, and tha is nothing to thability of the senate has that. on the other side that is you give the administration a lot o flexibility to administer a law. hell, i member back in the days -- i guess i am too old. al gore was registering illel aliens to vo in the election. that all comes back. lou: and it is also why that experience and wisdom is priced. we appreciate it. goodo have you with us. >> my pleasure. thank you. lou: we invite you to take a minute to go to loudobbs.com. find a link t our facebook page . tweet me. up next, updatedassessments in the damage from th oklama tornado. the divested communi.

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[announcer] you are how you sleep. tempur-pedic. ♪ lou: mourners gathering in moorklahoma today for the funeral of a 9-year-old girl wa killed n monday's devastating tornado. today's funeral is the first sincth storm. twenty-four people were killed. more than 300 injured. authorities say nearly 1200 homes in oklahoma city in the suburb of moore were either damaged or destroyed. the dama estited over $2 billion. scullin yard says to more peopl now have been arrested in connection with the hacking death of british soldier in broadaylight on the streets of london yesterday. the first two suspects who were captured on a bystander's vio and arrested at the scen remain in custody, hospitalized in

stable condition of shot by london police. cording to a two headline the suspect was seen will lay bloody butchers knife. the suspects have previously been investigated for terrorist ties. prent obama call an tack senseless violence. the british collet terrorists. a huge decline that country's teenage birthrate. cording to the centers for the control the teen birthrate fell 25% since 2007 to a recd low of 31 births per 1,000 teenagers , teenbirth rates are in new mpshire and massachusetts, the hiest in arkansas and mississippi. it is good news.

coming up tomorrow, a number of white house scandals slowing th president's second term agenda. is it, in fact, that agenda? is it, in fact, debt? we will be talkinwith a congressman on the internal revenuservice scanda at t white house, senator jeff sessions on the proscts fo the ng of eight immigration plan, former senator -- nator scott brown will be here to tal about a white housethat is engulfed in scandal. and my next guest argues that love and sex is not all about the motion. she says economics play a big, big role. sh will join us to talk about her brand new book, dollars and sex. that is just about all there is to say. no. no. t even close. you hurt my feelings, todd. i did? when visa signature asked everybody

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♪ lou: a new book claims there is a marketplace for sex and love, and we all live in it. using the emic principles of supply and demand, she unlocks the real reason react the way we do in our personal lives. joining us is the author of is brand new book, dollars and sex. good to have you with us. >> good to be here. thank you. lou: let's start with this -- well, what i just reported, 25% decline in teenage births. that is a remarkable -- that is a remarkab improvement in something that we arell cheering. >> it is a greatmprovement, and it is not just one time drop . a think this is part along bertrand towardeclining birth rates. interestingly, the biggest reason is that teenagers just

turn having sex d haskl the way that they used to. promcuity has fallen in as cool. to me as an economist my perspective is affecting that the students recognize that in the cuent economy is so important to stay in school, so impornt to go on to college and having a littlele more education ter high school. i think message respond to that by being in the more cautious, the seven lots of evidence. the once again -- affd to go to college and how many sexual partne they have a high-school . it. lou: in that, you are cribing somewhat more maturity and the partisan judgment of thepart of teenagers and some alarm having affairs as adults, mared adults, andsupposedly monogamous relationships. >> the problem, itis not just maturity.

they're making ratiol decisions. i think average. they need to be more cautis. they worry about job prospects and do respond. they have seen what is going on. lou: some of these sub tells th you put to the book. a tru univerlly acknowledged thata single man in possession a good fortune must be in want of a wife or two that holds universal. >> that is a crazy line from ne austin, but that is actually talking about polygamy. addressing this issue as to why the united states does not have polygamy across the board cause of the interesting things is that ecomic theory predicts that in a country like the u.s. for you have a big

inequality in terms of the very wealthy man, why it is they don't have lawthat allow them to ha multiple wives. it is interesting because other countries, the wealthy men have multiple wives, but in counies like the u.s. and the rest of the developed world, they don't. i talk brought that in my book as economic reresults. lou: you say that wives pay a pric for taking their husband's name. how so? >> yes, thats interesting. a feeling that the dead, the difference between women who take their husband's name and women who keep their name, ther is a wage penalty that goes to taking your husband's name . ev if you take into account education, there is still -- still awaitsenalty. the reason is that when a wom keeps her name it sends a signa to our potentialemployers that she is committed tochange -- staying in the workforce and is rewarded for that, signaling her

commitment by being a paid a higher wag a lot of women don't wanto hear this because a lot of wome continue to red tape their husband's name. lo in some ways i can figure out reasonsnd go back to the teenage sex and birth thing. you point out condom avlability in schools actually increases teen pregnancy. talk about counterintuitive. >> the interesting thing about looking atth data d using. the way i do is that i am constantly coming across things that surprised me. a lot of their results are very counterintuitive, in the race agre one. lou: ten seconds. >> their greest pregnancy free and routines cse of their talking out condom availability for14 and 15- year-old. you give us to this effect when you make them available to olde

teens, and t argument is -- lou: i sorry, we're going to have to leave it there. we appreciate it. the book is dollars and sex. it is on our it's as simple as this. at bny mellon, our business is investmts. managing them, ming them, making them work. we oversee 20% of the e world's financial assets and that gives us scale and insight no onelse has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. ...amelia... for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions...

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neilall right, well the president must know, this irs thing, far more terrorizing. welcome, everyone. i' neil cavo. whenever your views on the president once again pushing th so-called terrorist camp down, try as the mighty can i shut of these scandals, especially the growing irs mess. word right now that lerner has been pu on administrative leave . more than benghazi inthe white house talking points to mor th the justice department's nipigon rerter more average americanrelate to ta targets than almost any other.